News
BXP Secures 230K SF in Leases at 360 Park Avenue South
BXP has secured 230,000 square feet of new and expansion leases at 360 Park Avenue South. As a result, the 450,000-square-foot building is now more than 90 percent leased. Strong demand continues to be seen from a diverse tenant base. The largest expansion was completed by Optiver, a global market-making firm. The company added 92,000 […]
Read More....Carlyle Expands Manhattan Office Footprint With Major Park Avenue Leases
Carlyle Group has significantly expanded its Manhattan office footprint. As a result, the firm’s New York presence now exceeds the size of its Washington, D.C., headquarters. The global investment firm signed a 10-year lease for 150,036 square feet at 245 Park Avenue. The space spans the entire 23rd through 26th floors of the building. The […]
Read More....New York Office Investment Market Rebounds as Sales Volume Reaches $13.4B
New York’s office investment market continues gaining momentum. Notably, sales activity increased for the second consecutive year. In 2025, office sales totaled $13.4 billion. That figure represents a 34% increase year over year. As a result, total transaction activity reached its highest level since 2019. After several slow years, investors are gradually returning to the […]
Read More....Times Square Office Leasing Surges at 1540 Broadway Following $150M Repositioning
A $150 million repositioning at 1540 Broadway in Times Square is already driving strong office leasing activity. Importantly, the project will not be fully completed until early 2027. The 750,000-square-foot office tower is being modernized to attract tenants seeking premium workspace in Midtown Manhattan. As a result, demand for repositioned office space continues to rise […]
Read More....Pharmacy Closures Reshape Retail Real Estate Across New York
The U.S. pharmacy sector is in a major contraction. This shift is reshaping prime corners and neighborhood retail nationwide, including New York. Since 2022, the largest chains have reduced store counts. Margin pressure, post-pandemic demand normalization, and theft have all played roles. Walgreens Boots Alliance announced plans to close 1,200 stores over three years. The […]
Read More....Manhattan Retail Lease Rebounds
Manhattan retail leasing continues to strengthen following its post-pandemic rebound. New data from the Real Estate Board of New York shows vacancy declining across key corridors. Fewer storefronts were vacant in the second half of 2025 compared to the prior six months. Prime districts such as SoHo, Flatiron, and Upper Madison Avenue outperformed with stable […]
Read More....Manhattan Office Leasing Drives National Market Recovery
Office leasing in Manhattan has become a key driver of the national office rebound. For the first time since 2019, tenants are taking more space than they are giving back. National net absorption turned positive in the final months of last year. Net absorption measures the difference between move-ins and move-outs. According to a recent […]
Read More....U.S. Commercial Real Estate Prices Rise as Office Sector Stabilizes
U.S. commercial real estate prices increased across major property types over the past year. Office properties led the recovery despite ongoing market uncertainty. According to the CoStar Commercial Repeat Sale Indices, value-weighted office prices rose 3.8% in the 12 months ended in December. This followed an 11.4% decline in 2024. Industrial, retail, and multifamily assets […]
Read More....Federal Reserve Pauses Interest Rate Cuts as Economic Outlook Improves
The Federal Reserve voted Wednesday to pause its recent run of interest rate cuts. The decision reflects growing confidence in economic stability and market conditions. The Federal Open Market Committee voted to keep the benchmark interest rate between 3.5% and 3.75%. The move met expectations across financial markets. This decision ends three consecutive quarter-point rate […]
Read More....Office Investment Rebounds as Sales Surge Across U.S. Markets
Office workers were not the only ones returning to the workplace last year. At the same time, investors were reentering the office market in growing numbers. As a result, building sales accelerated across the sector. Stable interest rates, improving fundamentals, and clearer pricing expectations supported the rebound. Consequently, office sales volume reached more than $56 […]
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